Tuesday, January 03, 2012

Resilience and the Entrepreneur

An entrepreneur will be tested.  Along the way he or she will be pushed and prodded.  They will fall down.  There will be days when they will question their resolve.  At times they will wonder if all the sacrifices are worth the long hours and constant pressure.  It is not a matter of if an entrepreneur will face tough times, but when.

This is where resilience comes into play.  Those who will succeed must have the ability to return to their original excitement and dedication of growing their business after facing down a plethora of adversity.

Resiliency does not happen by accident. The individual has to make the choice in advance to be prepared to bounce back no matter how they are bent and stretched.  Being in charge, dealing with employee issues, measuring client satisfaction, winning investors, burn rates, government regulations, and countless other responsibilities can push anyone to the breaking point.

Stress can be a strong opponent, especially for a first time entrepreneur who is not prepared to cope and adapt to ever changing situations.  Experienced professionals have the advantage of having seen their previous companies survive and thrive after a variety of traumas.

Without experience the entrepreneur must counter with a long-term vision, a strong belief in self, emotional control, and external social support.

Long-term vision:  Knowing deep inside that your commitment to the venture is bigger than any short-term set back will help you look past a current situation.  Being aware of the goal will make it easier to navigate yourself toward a solution to the problem.  There are always options when you are clear on the destination.

Belief in self:  Doubt can quickly undermine anyone.  Successful entrepreneurs are sure in their soul that they can and will find success in growing their business.  This confidence will get you out of bed in the morning on those days when you want to pull the covers over your head.

Control of emotions:  When we deal with other people there are often emotions involved.  When we allow negative feelings to take over we can make poor choices.  Hurt feelings, jealousy, embarrassment, disappointment, anger, fear, guilt, and other emotional responses can cloud judgement and lead to poor decisions.

External social support:  When facing difficulties we can discover resolve in the experiences of others.  Having a network of other business professionals who you can turn to will always be a great resource for an entrepreneur.  A formal or informal group of advisers whom you respect and trust can guide you through the muddy waters.  However, you cannot wait until you are in trouble to build the relationships needed.  You need your support network in place long before you face the big problems.

Resilience is important.  You will get knocked around and down, but you must be being able to get up and be stronger than before.  Rising up and moving forward is the only option for the successful entrepreneur.

Have A Great Day.

thom singer

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